Blackstone has led a $100m minority investment in marketing technology company Applecart, valuing the business at around $700m, according to a report by Bloomberg citing a person familiar with the transaction.
Founded in 2013, Applecart provides software used by senior executives to identify and engage influential business, media, and policy stakeholders. The platform is used by large corporates, communications and advertising firms, and non-profits across marketing, communications, investor relations and public affairs.
As part of the transaction, Ari Emanuel, executive chair of TKO Group Holdings and executive chairman of WME Group, will remain on Applecart’s board, alongside public relations Founder Risa Heller and Co-Chief Executives Matt Kalmans and Sacha Samotin. Emanuel led Applecart’s Series A round in 2018.
